R$ 11 Billion Will Be Transferred to States Through Oil Auction

Written by Paulo Nogueira

Published on 06/08/2019 at 13:20

drilling platform on sea/ Oil rig

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R$ 11.5 billion That The Union Will Receive From The Oil Megauction Will Be Shared With The States, According To Special Secretary Of Treasury.

The Special Secretary of Treasury, Waldery Rodrigues, stated at the end of the afternoon on this Monday, August 5, that 15% of the net amount that the Union will receive from the oil megauction will be shared with the States, corresponding to R$ 11.5 billion. According to him, the amount was agreed upon between governors and representatives of the States and municipalities.

The Union defined the amount of the signing bonus to be paid by the winning companies at R$ 106.6 billion, “estimated for the end of the year for receipt,” noted Waldery.

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States And The Union Agree To Discuss Transfers Of The Kandir Law

Representatives of the States, the Attorney General of the Union, and the Ministry of Economy met this Monday at the STF to discuss the transfers related to the Kandir Law. The Kandir Law stipulates that the Union compensates the States for the ICMS that is not collected due to the exemption of exports.

In Congress, a proposal is ready for a vote in the Plenary of the Chamber that obliges the Union to deliver annually to the States R$ 39 billion as compensation for the exemption of the ICMS.

The deadline expired in August of last year without an agreement on the bill, as the Union wanted to pay R$ 3.9 billion, but the States asked for ten times that amount: R$ 39 billion.

The technical area of the Court of Accounts of the Union (TCU) concluded that the Union no longer has the obligation to make billion-dollar transfers to the States due to the Kandir Law. The constitutional amendment of 2003 established that when 80% of the ICMS is collected in the State where consumption occurs, there will no longer be a right to compensation. The technical area of the government argues that this has already been fulfilled.

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R$ 11 Billion Will Be Transferred to States Through Oil Auction

R$ 11.5 billion That The Union Will Receive From The Oil Megauction Will Be Shared With The States, According To Special Secretary Of Treasury.

States And The Union Agree To Discuss Transfers Of The Kandir Law

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R$ 11 Billion Will Be Transferred to States Through Oil Auction

R$ 11.5 billion That The Union Will Receive From The Oil Megauction Will Be Shared With The States, According To Special Secretary Of Treasury.

States And The Union Agree To Discuss Transfers Of The Kandir Law

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